Which factor of production is represented by raw materials like coal, fertile land, and water?

Raw materials such as coal, fertile land, and water are classified as natural resources because they are provided by nature and are essential for the production of goods and services. Natural resources serve as the foundational inputs used in various industries, ranging from agriculture to manufacturing. They are crucial for economic activity and can be categorized into renewable resources, like fertile land and water (when managed sustainably), and non-renewable resources, such as coal. This classification highlights their inherent value and importance in the production process, distinguishing them from capital—man-made tools and equipment; labor—human effort in production; and human capital—skills and knowledge possessed by workers. Understanding these factors helps in recognizing how different resources contribute to the overall economy and production capacity.